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May 17, 2022| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 8,912,965 | 8,865,988 | 0.529 | 23,496,030 | -62.066 |
| Gross Profit (Loss) | 2,611,379 | 3,962,169 | -34.092 | 15,040,023 | -82.637 |
| Operational Profit (Loss) | -3,222,215 | 248,878 | – | 159,879 | – |
| Net Profit (Loss) after Zakat and Tax | -3,576,926 | 75,071 | – | 11,345,449 | – |
| Total Comprehensive Income | -3,576,926 | 75,071 | – | 11,028,105 | – |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Total Share Holders Equity (after Deducting Minority Equity) |
| Current Period | 143,638,913 |
| Similar period for previous year | 141,763,363 |
| %Change | 1.323 |
| Profit (Loss) per Share | |
| Current Period | -0.36 |
| Similar period for previous year | 0.01 |
| All figures are in (Actual) Saudi Arabia, Riyals |
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 143,638,913 | 141,763,363 | 1.323 |
| Profit (Loss) per Share | -0.36 | 0.01 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is |
| Explanation | The reason for the decrease in net profit in the current quarter compared to the same quarter of the previous year is due to: 1. The increase in the cost of revenues in the current quarter compared to the same quarter of the previous year by 28.5%, due to an increase in Wages (localization of professions) and the rise of other cost components. 2. An increase in selling and administrative expenses for the current quarter by 57.1% over the same quarter of the previous year, due to the increase in wages (localization of professions) as well as the requirements for establishing a subsidiary company (Arab Sea Financial Company). 3. Zakat was re-linked for the years 2019 AD and 2020 AD, which affected the net profit for the current quarter |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | |
| Explanation | The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to the decrease in revenues in the current quarter compared to the previous quarter by 62.06%, given that the fourth quarter is the best quarter of the year for the company’s revenues. |
| Statement of the type of external auditor’s report | |
| Explanation | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | |
| Explanation | None |
| Reclassification of Comparison Items | |
| Explanation | Certain comparative figures for the period ending on March 31, 2021 have been reclassified to conform to the presentation and classification of the current period |
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the decrease in net profit in the current quarter compared to the same quarter of the previous year is due to: 1. The increase in the cost of revenues in the current quarter compared to the same quarter of the previous year by 28.5%, due to an increase in Wages (localization of professions) and the rise of other cost components. 2. An increase in selling and administrative expenses for the current quarter by 57.1% over the same quarter of the previous year, due to the increase in wages (localization of professions) as well as the requirements for establishing a subsidiary company (Arab Sea Financial Company). 3. Zakat was re-linked for the years 2019 AD and 2020 AD, which affected the net profit for the current quarter |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to the decrease in revenues in the current quarter compared to the previous quarter by 62.06%, given that the fourth quarter is the best quarter of the year for the company’s revenues. |
| Statement of the type of external auditor’s report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
| Reclassification of Comparison Items | Certain comparative figures for the period ending on March 31, 2021 have been reclassified to conform to the presentation and classification of the current period |
كل عام والسعودية تُعانق السماء مجدًا وطموح وإزدهار اللهم ادم علينا الامن والامان والرخاء واحفظ هذه البلاد وقادتها من كل سوء
